The First Bitcoin Fund Had Just Been Listed On Major Stock Exchange: 3iQ Corp Has Launched On Toronto Stock Exchange

Canada-based 3iQ Corp has launched a Bitcoin Fund on the Toronto Stock Exchange (TSX). It’s the first public cryptocurrency fund listed on a significant global stock exchange. The Class A units, having a total asset value of approximately $14 million, began trading today under the symbol QBTC.U.

The Bitcoin Fund Is Here

On April 2nd, the digital asset fund management company, 3iQ, informed that The Bitcoin Fund had filed with the securities regulatory authorities in all Canadian provinces. It had received a receipt for its final prospectus regarding an initial public offering of Class A Units and Class F units at $10 per unit.

Today, the Canadian company announced the completion of the IPO of units and its merger with 3iQ Bitcoin Trust. As a result, The Bitcoin Fund now has close to 1.5 million Class A Units worth approximately $14 million. Those units are already listed on the TSX, which is the ninth-largest exchange worldwide, as QBTC.U, and they target all sorts of investors.

According to the press release, the fund’s mission is to provide holders of the fund’s units with Bitcoin exposure and its daily price movements against the US dollar, as well as “opportunity for long-term capital appreciation.”

The Fund tracks the price of Bitcoin by utilizing an index feed co-developed by MV Index Solutions (MVIS), and the popular cryptocurrency market data provider – CryptoCompare. 3iQ Corp will act as the portfolio and investment manager of the fund.

Tyler Winklevoss: The First BTC Fund On a Major Exchange

Tyler Winklevoss, Co-Founder, and CEO of the popular cryptocurrency exchange Gemini commented on the launch and his company’s involvement with the project:

“This is the first public Bitcoin fund listed on a major global stock exchange. Proud that Gemini was selected as the custodian for this Fund. “

He also added that this would be the first BTC Fund “in the world that can be redeemed at NAV. It has been approved by the Ontario Securities Commission, a major securities regulator, and is easy for investors to access.”

The post The First Bitcoin Fund Had Just Been Listed On Major Stock Exchange: 3iQ Corp Has Launched On Toronto Stock Exchange appeared first on CryptoPotato.

Source: Crypto Potato